BofA analyst Bryan Spillane lowered the firm’s price target on PepsiCo to $190 from $210 and keeps a Buy rating on the shares. Continuing weakness in the food and beverage industry could force Pepsi to choose between stretching its P&L to hit EPS targets or cooling its pursuit of earnings to stave off the risk of cutting costs too far, says the firm, which adjusted its EPS forecasts accordingly.
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